Ukraine talks: President Trump warned of 鈥渧ery severe consequences" if Russia does not agree to end the war in Ukraine following a Friday summit in Alaska. His comments came after a virtual meeting between the U.S. and European leaders yesterday, which they described as friendly. Ukrainian President Volodymyr Zelenskyy said Russian President Putin is 鈥渂luffing鈥 about seeking peace.
Bullish bourses:聽Global stocks have rallied recently, driven by firming expectations of a U.S. interest rate cut in September, leading to record highs on Wall Street. A number of market-based measures of rate expectations indicate that investors are growing less concerned about the deflationary impact of tariffs following the recent trade deal between the United States and the European Union.
Foreign aid: The Trump administration can cut billions of dollars approved by Congress for overseas assistance, an appeals court ruled yesterday. The funding was suspended as part of the government鈥檚 efforts to dissolve the U.S. Agency for International Development. Donors are finding new ways to get money to people in need.
ICE detention: A federal judge ordered the Trump administration to improve conditions at a New York City immigration holding facility. Detained migrants had complained about cleanliness, overcrowding, and a lack of hygiene supplies such as soap and toothbrushes.
Museum review: Eight Smithsonian museums are under scrutiny ahead of celebrations marking the 250th anniversary of the United States next year. The White House has called for a comprehensive review of exhibits in an effort to remove 鈥渄ivisive or ideologically driven鈥 content. Officials say they are rebuilding trust, while critics say the government is censoring historical narratives.
Drying out: Alcohol consumption is at a record low in the United States. For the first time, most adults view even moderate drinking as harmful, according to a new Gallup survey. Some 54% of Americans reported drinking alcohol, down from 62% in 2023. Young people, too, are giving up drinking.
Kennedy Center awards: President Trump, the new chairman of the center, announced he will be hosting the glamorous honors ceremony this year. Honorees include 鈥淩ocky鈥 actor Sylvester Stallone, singer Gloria Gaynor, and rock band Kiss.
鈥 Staff, The Associated Press, and Reuters